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  • #6,701
  • Dec 8, 2008 6:39am Dec 8, 2008 6:39am
Quoting Willowgal
Hi all,

Nobody at home today it seems !!

I am looking at going long if this gets down to this level later - 76.4% of upmove and also previous resistance (now support) ... as long as it slows down getting there :-)

Where is everyone ???
Hey willowgal,

I've been checking the thread a lot. I haven't seen too many attractive trades so I haven't posted much. That G/J trade looks good to me. Kind of a useless post from me, but I'm around

-Wonder where BRV is? I've been excited to see him post new stuff on his blog
  • #6,702
  • Dec 8, 2008 6:50am Dec 8, 2008 6:50am
Quoting libb
Hey willowgal,

I've been checking the thread a lot. I haven't seen too many attractive trades so I haven't posted much. That G/J trade looks good to me. Kind of a useless post from me, but I'm around

-Wonder where BRV is? I've been excited to see him post new stuff on his blog
Hi libb,

Glad I'm not alone my friend... I was starting to think everyone had a new forum to go to and nobody told me :-)
  • #6,703
  • Dec 8, 2008 7:05am Dec 8, 2008 7:05am
Quoting Willowgal
Hi libb,

Glad I'm not alone my friend... I was starting to think everyone had a new forum to go to and nobody told me :-)
Hey Willowgal,

On your GBPJPY chart your fib swing is a bit odd. It is placed suitably to match the level at the 76.4. The swing low is lower than where you have it.
Also... if you make a full swing from the lowest point up to the highest point you will find the 618 area is more likey at the supports.
Just my opinion.
  • #6,704
  • Dec 8, 2008 7:22am Dec 8, 2008 7:22am
Quoting TrendSetter
Hey Willowgal,

On your GBPJPY chart your fib swing is a bit odd. It is placed suitably to match the level at the 76.4. The swing low is lower than where you have it.
Also... if you make a full swing from the lowest point up to the highest point you will find the 618 area is more likey at the supports.
Just my opinion.
Hi TrendSetter

Oooops...Yes I see what you mean ... 137.85 may be more like the price to get in at (if it gets there)
  • #6,705
  • Dec 8, 2008 8:04am Dec 8, 2008 8:04am
USD/JPY H1
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  • #6,706
  • Dec 8, 2008 9:25am Dec 8, 2008 9:25am
Looks like that 137.50 on G/J worked out Willowgal. Took 50 or so pips. Thanks
  • #6,707
  • Dec 8, 2008 10:09am Dec 8, 2008 10:09am
Quoting libb
Looks like that 137.50 on G/J worked out Willowgal. Took 50 or so pips. Thanks
glad you did - I got about the same myself
  • #6,708
  • Dec 8, 2008 10:43am Dec 8, 2008 10:43am
Just went short EURUSD at 1.2950.

Was near the daily trendline. Took a small position, 40 pip SL, going to let it run while I'm at work and see what happens.
  • #6,709
  • Dec 8, 2008 10:57am Dec 8, 2008 10:57am
Quoting smittens4212
Just went short EURUSD at 1.2950.

Was near the daily trendline. Took a small position, 40 pip SL, going to let it run while I'm at work and see what happens.
Good luck smittens,

The Euro looks a lot stronger to me than the dollar though - not one I would want to fade myself, but I know you are lot more experienced than me
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  • #6,710
  • Dec 8, 2008 11:05am Dec 8, 2008 11:05am
Euro is definitely looking strong today, I'm just playing a technical retrace... we're overbought, etc.

Using a small position to limit my risk, anyways... can finally do that! (I had a micro account before and was undercapped... had limited money management tools-- finally deposited more to my account).
  • #6,711
  • Dec 8, 2008 3:54pm Dec 8, 2008 3:54pm
Hello everyone.
I am new to this thread but learning all the time. Interesting if you take Willowgal's post # 6701, ignore the Sunday data ,and move the start back to the swing low of the day @00:30 GMT rather than the low at 7:15 GMT as proposed by TrendSetter.

This certainly is a fascinating business. I too have been hoping BRV will show up soon.
  • #6,712
  • Dec 8, 2008 5:43pm Dec 8, 2008 5:43pm
a possible EUR bucket on the 1H chart
what do u think guys?
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  • #6,713
  • Dec 8, 2008 6:38pm Dec 8, 2008 6:38pm
For all of us antipodeans watching the Asian session.

The AUSUSD broke strong resistance at 0.6600 last night and is now looking to retest.

If it breaks then I'll be looking at .6536 as the next level of support. (S/R + 38% Fib)

cheers
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  • #6,714
  • Dec 8, 2008 7:54pm Dec 8, 2008 7:54pm
I'm still holding on to that EURUSD trade at 1.2950.

It looks like after... 8 hours? It's finally taking off a bit, +70 right now.

Just a matter of finding where to take profit... any advice welcome.
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  • #6,715
  • Dec 8, 2008 8:02pm Dec 8, 2008 8:02pm
Quoting smittens4212
I'm still holding on to that EURUSD trade at 1.2950.

It looks like after... 8 hours? It's finally taking off a bit, +70 right now.

Just a matter of finding where to take profit... any advice welcome.
I'd TP at about 1.2845-50 which it almost hit. If it breaks that I would look at about 1.2800-1.2795. Just my 2 cents.
  • #6,716
  • Dec 8, 2008 8:06pm Dec 8, 2008 8:06pm
1.2800 is the TP I have right now... will probably keep it, thanks.
  • #6,717
  • Dec 8, 2008 9:52pm Dec 8, 2008 9:52pm
Just a heads up on the EUR/GBP. It's touched the .8721-.8737 area a few times since dec 4th. Here's a link to to Kathy Lien's analysis that suggests it could head up to .9000

http://www.kathylien.com/site/forex/...ed-to-90-cents
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  • #6,718
  • Dec 8, 2008 10:18pm Dec 8, 2008 10:18pm
Quoting libb
Just a heads up on the EUR/GBP. It's touched the .8721-.8737 area a few times since dec 4th. Here's a link to to Kathy Lien's analysis that suggests it could head up to .9000

http://www.kathylien.com/site/forex/...ed-to-90-cents

Hi Libb,

Thank you very much for sharing this info. However, would not one think that this may have well been priced-in. Just a different angle, which is uncertain to me, since I am sort of leaning towards the notion that markets, as being ever self-evolving are also quick to absorb vital and price-moving data/news such as interest rate decisions rather quickly given the extensive flow of information these past years.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #6,719
  • Dec 8, 2008 10:31pm Dec 8, 2008 10:31pm
Quoting libb
Just a heads up on the EUR/GBP. It's touched the .8721-.8737 area a few times since dec 4th. Here's a link to to Kathy Lien's analysis that suggests it could head up to .9000

http://www.kathylien.com/site/forex/...ed-to-90-cents
Well, it`s just a possibility.. And, reasonable, given the high volatility of Gbp compared to Eur...
  • #6,720
  • Dec 9, 2008 2:13am Dec 9, 2008 2:13am
Recently attended a forex trading course. Lecturer states that a trendline must touch at least three highs (or three lows) to be valid. I've been drawing trendlines that touch only two.

I know the trend is my friend, so I want to get it right. Anyone care to comment?
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